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Mumbai’s Property Sales Decline By Over 6% Year-On-Year

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Year-on-year biannual data of property registrations done in Mumbai shows a 6.39% decline. In 2022, between January and June, a total of 66,760 agreements for sale were registered with the Department of Registration and Stamps. On the other hand, during the first six months of 2023, which is up to June 30, 62,492 agreements for sale were registered.

In June 2023, a total of 10,319 property sale agreements were registered, as per data available from the state government. The previous June, 9,919 agreements for sale were registered in Mumbai.

Brokers, and consultants remain upbeat

Despite the decline in property registrations, real estate consultants and brokerage firms continue to be upbeat. They have been terming the recent sale of properties as a “bull run” of sorts and it being at an all-time high. However, a look at the 2023 property registration data shows a contradicting picture.

“Those who are into marketing and sale of properties will always try to portray a rosy picture of the industry, because their agenda is simple – to push more sales for their company to maintain a growth trajectory,” said an industry player in confidence.

“If the market is too buoyant and the demand as projected by the real estate consultancy firms, why for years is there stagnancy in the property prices?” questioned the same individual.

“Price of a product or service is directly dependent on the interaction between demand and supply. With such a heightened demand, the property prices should have increased month-on-month, but that is not the case despite the inflationary pressures that the Reserve Bank of India’s Governor himself has been categorically pointing out, repeatedly.”

Inflation, increase in home loan interest rates have hit market

Overall, in the recent past, the real estate market has witnessed a few headwinds impacting the sale such as inflationary pressure, increase in home loan interest rates, higher stamp duty rate, layoffs, etc.

At every repo rate or interest rate hike announced by the RBI, it is widely known that the real estate industry stalwarts have been presenting itself as upset and coming up with statements that it will impact property sales. Yet, within a few days, they contradict their own statements by mentioning the sales continue to be robust and at an all-time high.

Maharashtra

Nagpur violence: Law and order restored, 99 people arrested, Police Commissioner Ravinder Singhal

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Mumbai: After communal violence, peace has now been restored in Nagpur. Curfew has also been relaxed. Along with this, 99 accused have been arrested so far in the communal violence case. They are accused of being involved in the violence. This information was given by Nagpur Police Commissioner Ravinder Singhal here today. He said that the situation in Nagpur is now peaceful, so curfew has also been relaxed.

Along with this, action is also being taken against those who spread tension and noise. When asked whether the police have also arrested innocent people, Muslims have made such allegations, the Commissioner said that whoever was present at the spot at the time of violence has been arrested. Further action will be taken on the basis of evidence.

Ravinder Singhal said that the accused are being identified on the basis of video photos and other grounds. If any innocent people have been arrested in this, then it will be confirmed in the action through the cyber department. In view of Friday prayers, tight security arrangements were made in the area so that no untoward incident takes place. Anyone arrested will be taken into custody. On the question of the connection between Nagpur violence and Malegaon, the Police Commissioner said that this is a matter of investigation and it is not appropriate to say anything about it right now.

He said that investigation is going on on every aspect. According to Ravinder Singhal, law and order is maintained in Nagpur and the situation is completely under control. Social media and other sources are also being monitored.

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General

Matheran Gets Back To Business: Indefinite Strike Ends After 2 Days Following Agreement With Administration

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Mumbai: The indefinite strike in Matheran, which lasted for two days, concluded on Wednesday after successful discussions with the administration. The strike, initiated to protest fraudulent activities and overcharging by touts and horse operators, had led to a temporary closure of the hill station for tourists. However, following the intervention of local MLA Mahendra Thorve, the issue was resolved and tourist activities resumed on Thursday.

The protest was organised by the Matheran Paryatan Bachao Sangharsh Samiti (Save Tourism Struggle Committee), which raised concerns over scams that negatively impacted tourist footfall. Former Matheran Hill Station Municipal Council president Manoj Khedkar stated that the administration’s assurance to address these issues led to the withdrawal of the protest.

Why Was Matheran Closed?

On March 18, 2025, the people of Matheran united to take a stand against the exploitation of tourists. They decided to shut down the hill station indefinitely, demanding strict action against fraudulent practices by certain horse traders and touts operating at the entry points. The protest was supported by various local groups, including the hotel industry, e-rickshaw associations, traders and social organisations.

For a long time, tourists had been complaining about being misled and overcharged by horse operators at the entrance to Matheran. Despite multiple attempts to resolve the issue through administrative discussions, no concrete action was taken. Frustrated by the lack of response, the Save Tourism Struggle Committee called for an indefinite bandh until the administration took necessary steps to curb these malpractices.

Resolution & Reopening

After two days of intense protests, a meeting between the protestors and the administration led to a positive outcome. With assurances that strict action would be taken against fraudulent activities, the strike was called off. MLA Mahendra Thorve played a key role in mediating the discussions and ensuring the grievances of Matheran’s residents were acknowledged.

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Maharashtra

Ruckus in both houses of Maharashtra Legislative Assembly over mysterious death of Disha Salian

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Mumbai: After the mysterious suicide of actor Sushant Singh Rajput’s manager Disha Salian, there was an uproar in the Maharashtra Legislative Assembly and Vidhan Sabha and the members demanded an inquiry into the matter. The proceedings of the Upper House were adjourned twice, while the proceedings of the Lower House had to be adjourned once for 10 minutes. Disha Salian’s father had filed a petition in the High Court demanding an inquiry into his daughter’s death, after which the ruling members not only created a ruckus in the House over the matter but also demanded action against the accused involved in it.

In the Maharashtra Legislative Assembly, Legislative Assembly member Amit Sattam said that Disha Salian’s father has suspected suicide and the investigation of the case is not yet complete. Amit Sattam has also demanded that the government take necessary steps and take action against the culprits and investigate.

Minister Nitesh Rane said that the Supreme Court’s guiding principle is present in cases of gang rape and atrocities on women, yet action has not been taken in the Disha Salian case. Is there a separate law for the accused? He said that the Supreme Court has directed that the accused in rape and murder cases should be arrested immediately, so why are these three people being protected? They should be arrested and sent to jail.

When Rane was asked why he did not come for investigation even when he was called by the SIT, he said, “I have doubts about the person who was appointed as the ST officer, Chimaji Udayo. I have written a letter to express my views. Why should I go to the same officer with evidence, so that he can give these evidences to the accused and destroy them?” In this matter, Aditya Thackeray said that what should be done if the work of the House is to be stopped on this issue because we are raising questions on the development of Maharashtra and other issues. Where has Maharashtra been taken?

He said that earlier the proceedings of the House were affected on the Aurangzeb issue, during which a minister had to resign. This is being done to suppress all these things, but Maharashtra has sent you to the House to work. The public will have to answer this.

Minister of State for Home Yogesh Kadam has ordered to complete the investigation of the Disha Salian case and said that the government will not accept any pressure in this matter and he has also demanded to seek the SIT report on this matter as soon as possible.

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